Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

GM to Tiger: No more free cars

By Hibah Yousuf, staff reporter


NEW YORK (CNNMoney.com) -- General Motors confirmed Wednesday that it put an end to an agreement with Tiger Woods that allowed the golfer to drive its vehicles for free.

GM and Woods ended the golfer's endorsement contract with Buick in 2008, but continued a deal that allowed Woods to keep several GM loaner cars, including the the Cadillac Escalade he was driving in the car crash that ultimately revealed the athlete's marital infidelity.

The arrangement ended Dec. 31. A GM spokesperson confirmed that the termination date had been previously scheduled.

Several of Woods' major sponsors, including AT&T (T, Fortune 500) and Accenture (ACN), ended their business relationships with Woods following the Nov. 27 crash and the exposure of his marriage troubles.

But other companies, like Nike (NKE, Fortune 500) and Pepsi's (PEP, Fortune 500) Gatorade continue to sponsor Woods, who has taken a break from his professional golfing career. Procter & Gamble's (PG, Fortune 500) Gillette said it would stop airing commercials featuring the golfer for a while. To top of page

Index Last Change % Change
Dow 17,698.89 205.96 1.18%
Nasdaq 4,855.04 89.26 1.87%
S&P 500 2,074.21 26.17 1.28%
Treasuries 1.86 0.02 0.98%
Data as of 2:37pm ET
Company Price Change % Change
Bank of America Corp... 14.68 0.21 1.45%
Chesapeake Energy Co... 4.00 0.33 9.13%
Freeport-McMoRan Inc... 11.18 -0.20 -1.71%
Best Buy Co Inc 30.88 -2.12 -6.42%
Apple Inc 97.87 1.44 1.49%
Data as of 2:22pm ET
Sponsors

Sections

UCLA and Under Armour reportedly signed a record $280 million deal to outfit teams, which will last for 15 years. More

Coca-Cola announced it had suspended production of Coke in Venezuela and other sugar-sweetened beverages due to a lack of raw sugar. More

Sewage is a largely untapped source of thermal energy, and International Wastewater Systems is putting it to use. More